Segall Bryant & Hamill LLC Sells 10,355 Shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF)

Segall Bryant & Hamill LLC reduced its holdings in shares of Orrstown Financial Services, Inc. (NASDAQ:ORRF) by 8.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,297 shares of the bank’s stock after selling 10,355 shares during the quarter. Segall Bryant & Hamill LLC owned 0.59% of Orrstown Financial Services worth $4,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. American Century Companies Inc. boosted its holdings in Orrstown Financial Services by 0.3% in the fourth quarter. American Century Companies Inc. now owns 228,067 shares of the bank’s stock worth $8,350,000 after purchasing an additional 755 shares during the last quarter. Comprehensive Financial Planning Inc. PA bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at $38,000. R Squared Ltd bought a new position in shares of Orrstown Financial Services during the 4th quarter valued at $42,000. Principal Financial Group Inc. boosted its stake in shares of Orrstown Financial Services by 9.4% in the 4th quarter. Principal Financial Group Inc. now owns 14,535 shares of the bank’s stock worth $532,000 after buying an additional 1,245 shares during the last quarter. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Orrstown Financial Services in the fourth quarter worth $47,000. 44.27% of the stock is owned by hedge funds and other institutional investors.

Orrstown Financial Services Stock Down 0.1 %

ORRF stock opened at $30.51 on Friday. The business’s 50-day moving average price is $33.32 and its 200-day moving average price is $35.87. The stock has a market cap of $591.47 million, a P/E ratio of 16.58 and a beta of 0.87. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.13. Orrstown Financial Services, Inc. has a twelve month low of $24.70 and a twelve month high of $41.99.

Orrstown Financial Services (NASDAQ:ORRF) last released its earnings results on Friday, January 31st. The bank reported $0.87 EPS for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.17). Orrstown Financial Services had a return on equity of 15.77% and a net margin of 7.70%. On average, equities research analysts forecast that Orrstown Financial Services, Inc. will post 4.23 EPS for the current year.

Orrstown Financial Services Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 21st. Investors of record on Friday, February 14th were issued a $0.26 dividend. The ex-dividend date was Friday, February 14th. This represents a $1.04 annualized dividend and a yield of 3.41%. This is an increase from Orrstown Financial Services’s previous quarterly dividend of $0.23. Orrstown Financial Services’s dividend payout ratio is currently 56.52%.

Insiders Place Their Bets

In other Orrstown Financial Services news, Director Brian D. Brunner bought 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 19th. The stock was purchased at an average price of $30.87 per share, for a total transaction of $77,175.00. Following the completion of the transaction, the director now owns 49,330 shares of the company’s stock, valued at $1,522,817.10. This trade represents a 5.34 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Scott V. Fainor bought 3,000 shares of the firm’s stock in a transaction that occurred on Monday, March 24th. The shares were acquired at an average cost of $31.17 per share, for a total transaction of $93,510.00. Following the purchase, the director now directly owns 13,396 shares in the company, valued at $417,553.32. This trade represents a 28.86 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 6,800 shares of company stock worth $211,892. Corporate insiders own 5.30% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on ORRF shares. Piper Sandler initiated coverage on Orrstown Financial Services in a report on Wednesday, January 8th. They issued an “overweight” rating and a $43.00 target price on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $42.00 price objective (down previously from $46.00) on shares of Orrstown Financial Services in a report on Monday, February 3rd.

About Orrstown Financial Services

Orrstown Financial Services, Inc operates as the financial holding company for Orrstown Bank that provides commercial banking and financial advisory services to retail, commercial, non-profit, and government clients in the United States. It accepts various deposits, including checking, savings, time, demand, and money market deposits, as well as certificates of deposit.